Fireworks light up the sky during the inauguration of the Wanda Metropolitano stadium after the Spanish league football match Club Atletico de Madrid vs Malaga CF in Madrid on September 16, 2017. UEFA announced on Wednesday that the stadium will host the 2019 Champions League final. (AFP)

As the only other candidate for the final, Azerbaijani capital Baku receives the 2019 Europa League final as a consolation for missing out on the main event.

Budapest will host the women’s Champions League final, whilst the UEFA Super Cup between the Champions League and Europa League winners will take place at Besiktas’ Vodafone Park in Istanbul.

Backed by Chinese conglomerate Wanda, who bought a 20 percent stake in Atletico in 2015, the club opened the 310 million-euro ($370 million) Wanda Metropolitano for the first time on Saturday as Atletico beat Malaga 1-0 in La Liga.

“For me it is the best stadium I have played in, and I don’t just say that because it is my club,” said Antoine Griezmann after scoring the opening goal at the new ground.

“As a player or a coach I have never seen anything like it,” added Atletico coach Diego Simeone.

According to a report from Spanish sports daily Marca, Madrid’s hotel capacity and that of the nearby Barajas international airport swung the decision in Madrid’s favour.

“Everyone from the world of football will look towards our new stadium in the 2019 Champions League final,” Atletico said in a statement.

“The Metropolitan Wanda has been built to meet the highest standards of comfort and security with the aim of offering the best experience for all its visitors.”